Ellassay to purchase Laurel fashion brand

Shenzhen Ellassay Fashion Co Ltd, the Guangdong-based high-end female clothing manufacturer, is hoping to buy a Hong Kong company which owns the rights to the German fashion brand, Laurel GMBH.

Ellassay issued a statement on the Shanghai Stock Exchange saying it plans to acquire East Light International Investment (Hong Kong) Ltd for 11.18 million euros ($12.5 million), as part of a planned global expansion.

The takeover would see Ellassay owning Laurel's design, pricing and production rights and all its stores on the Chinese mainland.